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so at this point is there any chance the united states can avoid taking a fiscal cliff dive? joining me for more is republican senator john hoeven of north dakota. and very simply, sir, we appreciate you being here but is harry reid right? are we going off the cliff? >> well, adam i hope he is not right. at this point president obama indicated he is going to call and talk to our leader, mitch mcconnell, senator mcconnell and make a proposal. we're very interested to see what that proposal is. we put revenues on the table. there needs to be some savings. and i believe we can get a deal so let's go. adam: what will the do look like? the president at one point actually upped what he was willing to tax. he wants taxes. originally saying on incomes of 250,000 and up. then he went to 400,000. what kind of compromise do we need from both side to get a deal done so that i don't have to keep boring people with this term fiscal cliff? >> right. to really get the deal done right you need about 4 troll trillion to get us back on track. that means pro-growth tax reform, entitlement reform
so at this point is there any chance the united states can avoid taking a fiscal cliff dive? joining me for more is republican senator john hoeven of north dakota. and very simply, sir, we appreciate you being here but is harry reid right? are we going off the cliff? >> well, adam i hope he is not right. at this point president obama indicated he is going to call and talk to our leader, mitch mcconnell, senator mcconnell and make a proposal. we're very interested to see what that proposal...
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Dec 27, 2012
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-- that we're probably not going to go off the fiscal cliff or if we do go off the fiscal cliff it will be a small package of some tax increases, some spending cuts, but it's not going to put the economy into a recession. so what i've been telling clients is let's just hold the line right here. let's not sell precipitously. let's wait until we see the outcome. but right now i think there's a real good chance that the outcome could be positive or will muddle our way through this significant problem. >> ifill: let me ask you a question which politicians kept bringing up during this last election which is the that the uncertainty is what makes people nervous in the business world. is this the kind of uncertainty they were talking about? >> it absolutely is. you mentioned before the retail sales numbers for this christmas season and the retail sales numbers for this christmas season were very poor, very soft. this is both individuals and individuals affecting companies making decisions and it's really largely driven by their significant uncertainty about what's going to be their tax rate in
-- that we're probably not going to go off the fiscal cliff or if we do go off the fiscal cliff it will be a small package of some tax increases, some spending cuts, but it's not going to put the economy into a recession. so what i've been telling clients is let's just hold the line right here. let's not sell precipitously. let's wait until we see the outcome. but right now i think there's a real good chance that the outcome could be positive or will muddle our way through this significant...
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Dec 27, 2012
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what i want -- i don't want people to get excited about this fiscal cliff. right? so you laugh, right. >> i'm not laughing but if you take a dollar out of every -- that's a tax. >> i understand. i would rather self impose a tax than be forced to do something. therefore you're going to want to do it. for me, it's muscle memory. once you try it, you'll feel a tremendous patriotism and it will be -- >> did you hear that lieutenant colonel representative say we don't have a tax problem, we don't have a revenue problem, it's a spending problem? this doesn't address the problem in washington. that's the problem. >> again, once we band together, companies and citizens, we're listen, we need additional receipts, period. that's a known. it's going to happen for a period of time through -- >> you're a business guy. we're run out of time.j3 if you take in money but spend more, you're still taking in more money every year. you have to worry about the spending side, not revenue. >> the good faith program i started is going to force our elected officials to do something. we'll
what i want -- i don't want people to get excited about this fiscal cliff. right? so you laugh, right. >> i'm not laughing but if you take a dollar out of every -- that's a tax. >> i understand. i would rather self impose a tax than be forced to do something. therefore you're going to want to do it. for me, it's muscle memory. once you try it, you'll feel a tremendous patriotism and it will be -- >> did you hear that lieutenant colonel representative say we don't have a tax...
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Dec 27, 2012
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cliff or higher capital gains reached right now? do you think it's an artificial dip? >> i think it is more than an artificial dip. i think you had smart to the market selling by december 31st you're going to have to pay taxes and whether you have taken your profit or not taken your profit. the second thing is of course evening out from the funds for year end and the third thing is of course gold did not look at incompetent flags upcoming in the last four weeks gold has been looking at the possible recession because if we're going to have less spending and higher taxes and a cap on the economy, then of course you don't need gold to preserve purchasing power so the gold managers have been pairing down gold and looking at other staassets. they've been looking at platinum and palladium. you have 11-year-old car fleets that have to be redone at some point. new sales. 400,000 cars that were damaged over a period of time in the storms. 250,000 superstorm sandy here. 40,000 pounds of copper go into a car. housing has turned up a little bit
cliff or higher capital gains reached right now? do you think it's an artificial dip? >> i think it is more than an artificial dip. i think you had smart to the market selling by december 31st you're going to have to pay taxes and whether you have taken your profit or not taken your profit. the second thing is of course evening out from the funds for year end and the third thing is of course gold did not look at incompetent flags upcoming in the last four weeks gold has been looking at...
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Dec 27, 2012
12/12
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kenneth vogel, talk about what is happening with the fiscal cliff right now in the major divisions within the republican party. you follow the conservative movement within the republican party. >> i think that is the story of the fiscal cliff stalemate, much as it was last year with the stalemate over increasing the debt ceiling. it is, in fact, these tea party members who are elected first in the conservative wave of 2010 when republicans took back the house, and subsequently, there were some additions to the sort of tea party caucuses in both the house and senate in 2012, but many fewer. in fact, many tea party members lost their re-election bid in 2012. it is hard to generalize, but you could look at a number of them and say that this sort of souring of public opinion on the tea party as a result of their perceived unwillingness to compromise in 2011 over the debt ceiling negotiations probably was held against them, probably heard not only them in their reelection bid, but also republicans more broadly and republican brand, because they are perceived to be the party of in transient as
kenneth vogel, talk about what is happening with the fiscal cliff right now in the major divisions within the republican party. you follow the conservative movement within the republican party. >> i think that is the story of the fiscal cliff stalemate, much as it was last year with the stalemate over increasing the debt ceiling. it is, in fact, these tea party members who are elected first in the conservative wave of 2010 when republicans took back the house, and subsequently, there were...
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Dec 27, 2012
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thanks a lot >> susie: the fiscal cliff isn't the only drama playing out for the u.s. economy: there's also the "container cliff". 14 ports along the u.s. east and gulf coasts are at risk of closing if longshoremen and the international maritime alliance cannot reach a deal by saturday. federal mediators have been called in to help with last minute negotiations. at the heart of the dispute: container royalties. those fees charged to shippers were implemented in the 1960s to help dock workers displaced by technology. the maritime alliance wants the royalties capped. earlier this month a port strike in southern california, cost an estimated $1 billion a day. netflix is blaming problems at its web service provider, amazon for a server outage that took down its streaming video service on christmas eve and into christmas day. netflix says it worked through the night with engineers at amazon to get the service back up and running. netflix shares rebounded today, rising almost 2%, while amazon shares fell nearly 4%. >> susie: amazon was just one of many stocks in the red toda
thanks a lot >> susie: the fiscal cliff isn't the only drama playing out for the u.s. economy: there's also the "container cliff". 14 ports along the u.s. east and gulf coasts are at risk of closing if longshoremen and the international maritime alliance cannot reach a deal by saturday. federal mediators have been called in to help with last minute negotiations. at the heart of the dispute: container royalties. those fees charged to shippers were implemented in the 1960s to help...
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Dec 27, 2012
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if not for the so-called fiscal cliff debate they're trying to strike a deal on. that would be also on other legislation that would come up with 113th congress. democrats want to ensure they have 55 votes when the 113th congress begins on january 3rd. >> senior political editor mark murray for us on this thursday, appreciate it, sir. >> thank you, craig. >>> outrage of russian president vladimir putin's decision to sign a bill to block americans from adopting russian children and a video of a squarm bursting in a shopping mall. details on that story around the "news nation." [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and save you up to thousands of dollars in out-of-pocket costs. call today to request a free decision guide to help you better unde
if not for the so-called fiscal cliff debate they're trying to strike a deal on. that would be also on other legislation that would come up with 113th congress. democrats want to ensure they have 55 votes when the 113th congress begins on january 3rd. >> senior political editor mark murray for us on this thursday, appreciate it, sir. >> thank you, craig. >>> outrage of russian president vladimir putin's decision to sign a bill to block americans from adopting russian...
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Dec 27, 2012
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align. >>> we are so close to the fiscal cliff right now we can pra practically look over the edge. in fact, some people are saying it might even be too late for a deal and we'll go over that cliff. harry reid just took to the senate floor 30 minutes ago to say he thinks it's likely we're going to go over the cliff. republicans like house speaker john boehner and mitch mcconnell have been radio silent on negotiations. joining me is will kain and roland martin, a political analyst and columnist. welcome to you both. >> good to see you. >> good to see you. i'm just so sad we have to talk about the fiscal cliff. let's start with you, roland. harry reid comes out and says the house isn't in session. the president is back. the house is going nowhere. john boehner is doing a terrible job and we'll likely go off the cliff because of the republicans. >> it's interesting. this morning i talked to congressman e moon yule cleaver and part of the issue deals with the house rules. they have to have 48-hours notice to come back to washington, d.c. republicans also have a rule -- >> like there are
align. >>> we are so close to the fiscal cliff right now we can pra practically look over the edge. in fact, some people are saying it might even be too late for a deal and we'll go over that cliff. harry reid just took to the senate floor 30 minutes ago to say he thinks it's likely we're going to go over the cliff. republicans like house speaker john boehner and mitch mcconnell have been radio silent on negotiations. joining me is will kain and roland martin, a political analyst and...
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cliff and everything that we're not right now so let's let's play the clip there. and when you look at the final agreement that we came to the white house you know i got ninety eight percent of what i wanted i'm pretty happy folks do you think is still pretty happy to do that you regret saying that i mean come on i think that they are speakership is just a list of regrets where the obama presidency has been a list of sore forced crisis c s i was in a room an off the record meeting with the hill staffers when this deal was sort of being given to them and a very senior guy gainers office said that basically the president is exactly where we want him that was august of two thousand and eleven and here we are now everyone assumed that the debt limit would at least go until seven larry and geitner just before we went on the air sent a letter to congress saying that we're actually going to run out of cash on monday which is probably the real reason why the president came home well i think republicans. at the time boehner saying that thought that president obama was going
cliff and everything that we're not right now so let's let's play the clip there. and when you look at the final agreement that we came to the white house you know i got ninety eight percent of what i wanted i'm pretty happy folks do you think is still pretty happy to do that you regret saying that i mean come on i think that they are speakership is just a list of regrets where the obama presidency has been a list of sore forced crisis c s i was in a room an off the record meeting with the hill...
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Dec 27, 2012
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because of the fiscal cliff, huge amounts of oil money on the side lines right now. take a look at volumes. we ran these numbers and put this together, february of 2011 it was a good month for oil, trading the average day, 934,000 contracts traded. by last month, november of this year, that was almost cut in half to almost -- well, a little bit more than half a million a day. yesterday the volume? 175,000 contracts. and today our producer just gave me the numbers, just totalled up all. 261,000 contracts today. that's still half the typical volume for december. this money is on the side lines because even though you can make a lot of money in oil, nobody wants to be hanging out there right now with the danger of the fiscal cliff overhanging everything. it's -- it's not a good time if you have got money and you want to do something with it. ashley: that's right. >> it's on the side lines. ashley: you are right. jeff in the cold. thank you jeff. thank you very much. did you end up with coal in your stocking this year? we had to use that line. coal stocks have taaen a tu
because of the fiscal cliff, huge amounts of oil money on the side lines right now. take a look at volumes. we ran these numbers and put this together, february of 2011 it was a good month for oil, trading the average day, 934,000 contracts traded. by last month, november of this year, that was almost cut in half to almost -- well, a little bit more than half a million a day. yesterday the volume? 175,000 contracts. and today our producer just gave me the numbers, just totalled up all. 261,000...
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Dec 27, 2012
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over the fiscal cliff. but i think what is important is what harry reid said, there's a bill you could pass in the house, for the house to pass the senate bill is quickest. you can't do it because you have all the democrats and nancy pelosi can whip her caucus, she maas lie one or two, and then you need about 30 republicans, but boehner -- >> arguing the senate bill is more partisbipartisan. >> it means only 2% of people would pay the 39% tax rate on everything above 250, right? but you reason he won't even try to pass that bill, is because he doesn't want the optics with the bill being passed with mostly democrats. bainers wants it a majority of the majorities, that that will be mostly republicans passing it. that's impossible, because republicans, you can't even get 10 or 20 of them to agree on anything they think is a tax hike. so you have a stalemate of boehner's over design. >>> ryan, to you, please responds to what joann said. a year ago, did you think -- yeah, we knew this was going to happen, did yo
over the fiscal cliff. but i think what is important is what harry reid said, there's a bill you could pass in the house, for the house to pass the senate bill is quickest. you can't do it because you have all the democrats and nancy pelosi can whip her caucus, she maas lie one or two, and then you need about 30 republicans, but boehner -- >> arguing the senate bill is more partisbipartisan. >> it means only 2% of people would pay the 39% tax rate on everything above 250, right? but...
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the debt showdown last summer is what led to the fiscal cliff we're facing right now. just one more complication or bargaining chip. remind us, you're the best at putting this in perspective. remind us why the debt ceiling is just as important as the fiscal cliff. >> let me take you back a little while. to the conversation about the bun ji jump. here's the problem. confidence doesn't react to a bun ji jump. if you stole my phone and then i got it back from you, it would take that time before i develop that trust wp we saw the consumer confidence numbers come out and they have taken a big hit because consumers are worried about the fiscal cliff. the investing side is our debt raiting, you'll recall the last time we messed around with the debt ceiling, we got kicked down a notch. so if we are seen to be so irresponsible we would do this again and get past our debt limit, the world may sit there and say you're not that good. maybe americans are irresponsible with their money. we hit the debt limit on money. we have known that was coming. the treasury secretary reenforced
the debt showdown last summer is what led to the fiscal cliff we're facing right now. just one more complication or bargaining chip. remind us, you're the best at putting this in perspective. remind us why the debt ceiling is just as important as the fiscal cliff. >> let me take you back a little while. to the conversation about the bun ji jump. here's the problem. confidence doesn't react to a bun ji jump. if you stole my phone and then i got it back from you, it would take that time...
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those guys are sittings on the sidelines right now because they're worried about what the fiscal cliff has wrought. tomorrow. i have to tell you this. we'll have a ceo on tomorrow who says fiscal cliff, shmisfiscal cliff, that is a bunch crap. you can say that what you want to but it caused a lot of half vock in the market. it caused a lot of people to pull out of the market. david: because of low volume. individual traders can have unequal amount of influence when the volume is this low. >> that's right. david: thanks very much, jeff. >> appreciate it, david. shibani: we have a close encounter with a few sharks, maybe a bit too close. keep it here on fox business to figure out what we are talking about. ♪ . but we can still help you see. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity.
those guys are sittings on the sidelines right now because they're worried about what the fiscal cliff has wrought. tomorrow. i have to tell you this. we'll have a ceo on tomorrow who says fiscal cliff, shmisfiscal cliff, that is a bunch crap. you can say that what you want to but it caused a lot of half vock in the market. it caused a lot of people to pull out of the market. david: because of low volume. individual traders can have unequal amount of influence when the volume is this low....
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even if the fiscal cliff is solved, less damaging ways to resolve the fiscal cliff, the housing market still might be affected if the mortgage interest deduction is cut back severely. right now the mortgage interest deduction cost the government roughly $100 billion per year in revenue and getting rid of that would likely increase home values particularly in more expensive areas. gerri: rehear it would put the brakes on selling and home buying in those areas. what are the issues for you? you know all the issues and housing, what are you looking for next year? >> three things have been really important, the first is the inventories of homes for sale are down sharply. that is great news for home sellers because there is less competition. bad news for buyers. demand is also up, rising rent, rising prices, both of those will get urgency. the growth hasn't been great but it has been enough to get people off the fence, people feel more secure so demand is up. and finally, credit. it will be important to look at what are the standards to get a mortgage, much harder to get a mortgage even thou
even if the fiscal cliff is solved, less damaging ways to resolve the fiscal cliff, the housing market still might be affected if the mortgage interest deduction is cut back severely. right now the mortgage interest deduction cost the government roughly $100 billion per year in revenue and getting rid of that would likely increase home values particularly in more expensive areas. gerri: rehear it would put the brakes on selling and home buying in those areas. what are the issues for you? you...
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with less than five days to go before falls right off the fiscal cliff. the senate back in session today and it's the first time the senate or house has met for business between christmas and new year's in more than four decades. president obama cut his hawaii trip short arriving in washington early today. for now, the house of representatives is not in session but we've learned those lawmakers are set to return this weekend. today the senate majority leader, harry reid, says we've just about run out of time. >> if we go over the cliff, and that's where we're headed, mr. president, the house of representatives as we speak with four days left after today before the first of the year, aren't here with the speaker having told them they'll give them 48 hours notice. i can't imagine their consciences, out wherever they are around the country and we're here trying to get something done. >> we're awaiting reaction from the senate minority leader, mitch mcconnell. when that happens we'll go live to the senate floor but a spokesman for john boehner says senator re
with less than five days to go before falls right off the fiscal cliff. the senate back in session today and it's the first time the senate or house has met for business between christmas and new year's in more than four decades. president obama cut his hawaii trip short arriving in washington early today. for now, the house of representatives is not in session but we've learned those lawmakers are set to return this weekend. today the senate majority leader, harry reid, says we've just about...
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all right. so not a banner year for retail. we have fiscal cliff and debt ceiling fears. that's driving that. how do you invest now? we are about to ask a top money manager. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ and the next great idea could be yours. well, if itmr. margin?margin. don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. when the doctor told me that i could sm
all right. so not a banner year for retail. we have fiscal cliff and debt ceiling fears. that's driving that. how do you invest now? we are about to ask a top money manager. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to...
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deciding to jump right into this whole fiscal cliff debate. coffee baristas are -- they've been told to write on coffee cups to say "come together." so they're writing this handwritten message saying come together as a way of encouraging politicians to come together and get this fiscal cliff cliff thing done. no word yet on when people get extra lattes, where they can write get your lazy ass off vacation. >> willis likes that a lot more. >> i womdzer if there's enough room. >> if you're looking for love, you better have a good credit score. take a look at this. ♪ >> okay, yeah. we're not going to say we're going after those guys, but it's the credit score guys. "the new york times" is reporting that credit scores is huge and that could be at the top of the list. they interviewed people across the u.s., and a newspaper discovered a low credit score is a deal breaker in search of love. so if you don't have your act together, take care of that and maybe you'll find love. >> can you imagine, hi, how are you? what is your credit score? >> 420. no
deciding to jump right into this whole fiscal cliff debate. coffee baristas are -- they've been told to write on coffee cups to say "come together." so they're writing this handwritten message saying come together as a way of encouraging politicians to come together and get this fiscal cliff cliff thing done. no word yet on when people get extra lattes, where they can write get your lazy ass off vacation. >> willis likes that a lot more. >> i womdzer if there's enough...
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Dec 27, 2012
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fiscal cliff, they've passed bills and right now, no matter what the public blame may be, the fact of the matter is that the senate is next in line, and president obama is the president of the united states, expected to lead on this and to provide some ideas for it. stuart: i think you would agree with me that so far, it's the republicans who have taken the heat, and john boehner's plan b, a disastrous piece of publicity, got that. do you think that the tide is turning at all and that the jonbenet has been gettinof and . >> and not seeing any leadership for the president and not seeing any for the senate and not seen the budget. i think that the frustration is across th board and it should be felt by all. >> okay, you're sitting there in washington and you tell me now, do you think we get a deal on new year's eve? >> gosh, i certainly hope so. >> do you think we will? >> do you think we will? >> i don't think that this washington, anyone in washington is reckless enough for the country off the cliff. they recognize it's dangerous. stuart: i've got to read between the lines here. you'r
fiscal cliff, they've passed bills and right now, no matter what the public blame may be, the fact of the matter is that the senate is next in line, and president obama is the president of the united states, expected to lead on this and to provide some ideas for it. stuart: i think you would agree with me that so far, it's the republicans who have taken the heat, and john boehner's plan b, a disastrous piece of publicity, got that. do you think that the tide is turning at all and that the...
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Dec 27, 2012
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and some starbucks in washington, d.c., deciding to jump right into this whole fiscal cliff debate. coffee baristas are -- they've been told to write on coffee cups to say "come together." so they're writing this handwritten message saying come together as a way of encouraging politicians who are in d.c. to come together and get this fiscal cliff thing done. no word yet on when people get extra lattes, if there is's enough space to write "get your lazy ass off vacation and get this done." [ laughter ] >> willis likes that a lot more. i can hear it in the background. >> i wonder if there's enough room. >> no, i don't know about that. >>> okay, ladies and gents, if you're looking for love, oh, boy, you better have a good credit score. take a look at this. ♪ so hot right now that our designer sun glasses be fogging ♪ >> okay, yeah. we're not going to say we're going after those guys, but it's the credit score guys. "the new york times" is reporting that credit scores are huge and that could be at the top of the list. maybe after looks and personality is credit scores. they intervie
and some starbucks in washington, d.c., deciding to jump right into this whole fiscal cliff debate. coffee baristas are -- they've been told to write on coffee cups to say "come together." so they're writing this handwritten message saying come together as a way of encouraging politicians who are in d.c. to come together and get this fiscal cliff thing done. no word yet on when people get extra lattes, if there is's enough space to write "get your lazy ass off vacation and get...
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cliff. charlie's at the live desk right now this morning with more on the battle ahead for both sides of the debate. charlie the 11th hour. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the responsibility on president obama and senate democrats' shoulder. according to the "washington post" gop leaders vowed to go into session to vote on anything the democratic controlled senate approved. however speaker john boehner demanded the senate first take a look at the bill the house moved through a month ago that preserved the expiring tax cuts for the wealthy as well as the middle class. that's not likely given the president's position on raising taxes for those making more than $250,000 a year. >> i want us to not go ove
cliff. charlie's at the live desk right now this morning with more on the battle ahead for both sides of the debate. charlie the 11th hour. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the responsibility on...
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we are watching right now the fiscal cliff negotiations and traders are watching closely and it is a flat morning as they are on both sides of the aisle trying to work that out. >>> and now dave clark and pam cook are both off and we continue with ktvu channel 2 morning news. >>> there was a police shooting overnight in walnut creek. christian captain is near 680 with new information he found out within the past hour, christian? >> reporter: we have been on the scene since 4:30 and there is still a sizable police presence and we have seen some units just leaving in a few minutes. we have learned of course this was an officer involved shooting. if you take a look from our vantage point, the scene is at that brick wall you can see in the distance. police confirmed it all started as domestic violence and we have learned that the initial 911 call came in shortly before 3:15. >> we received 911 call transfer from the fire department at 3:13 this morning. there was screaming on the line. officers were dispatched and arrived within minutes. we received a radio transmission at 3:19 that shot
we are watching right now the fiscal cliff negotiations and traders are watching closely and it is a flat morning as they are on both sides of the aisle trying to work that out. >>> and now dave clark and pam cook are both off and we continue with ktvu channel 2 morning news. >>> there was a police shooting overnight in walnut creek. christian captain is near 680 with new information he found out within the past hour, christian? >> reporter: we have been on the scene...
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speaking right. exactly. liz: more on the fiscal cliff. let's bring in peter. with us is former clinton advisor doug shoen. we have basically mr. boehner saying, look, you senate, you have not come up with anything. >> i think, unfortunately, we will probably get around it. i think it is a worse outcome to avoid the cliff then to go over it. i think we should broaden the discussion and look at what is going on around the world. look at japan and europe. the japanese government is the glaring war on japanese citizens. it will create inflation. if the japanese citizens start to dump their bonds, they have been a bigger part then japan recently. that is a big problem for us. their euro has been quietly depreciating. if that goes out, that is a much bigger fiscal cliff. if the buyers of treasuries become sellers. liz: there are a lot of "if" in your discussion. the bond markets are still pretty -- nothing from the bottom vigilantes yet. you were a clinton advisor. you saw in the mid- 90s bond yields really spike higher. that is the issue. if we see the economy heal
speaking right. exactly. liz: more on the fiscal cliff. let's bring in peter. with us is former clinton advisor doug shoen. we have basically mr. boehner saying, look, you senate, you have not come up with anything. >> i think, unfortunately, we will probably get around it. i think it is a worse outcome to avoid the cliff then to go over it. i think we should broaden the discussion and look at what is going on around the world. look at japan and europe. the japanese government is the...
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but i will bring going on as you know with the fiscal cliff and everything else inside the beltway right now and you have senator leahy who is saying look i've got the video privacy protection act pass congressman good good good law for thank you for working with me on that now when the new year is coming i want this electronic communications privacy law changed so it requires a warrant for everything and i'm doing something for you you do something for me that i think is what's going on behind the scenes from a consumer perspective and a law enforcement perspective there's something else here and that is a is a balance between the consumers right to privacy and the government's right to investigate a crime because ultimately that is what it will impact and which is probably why this bill has slowed down a little bit right now even though the senate judiciary committee actually had bipartisan support when it did pass it out of committee unanimously a couple months ago. interesting you had mentioned earlier about the possible concern i guess altering what viewers end up watching and our v
but i will bring going on as you know with the fiscal cliff and everything else inside the beltway right now and you have senator leahy who is saying look i've got the video privacy protection act pass congressman good good good law for thank you for working with me on that now when the new year is coming i want this electronic communications privacy law changed so it requires a warrant for everything and i'm doing something for you you do something for me that i think is what's going on behind...
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. >>> with the government right on the edge now of that fiscal cliff, taxpayers are facing a lot of uncertainty as we head into the new year and for many of us the usual year-end financial strategies simply may not apply this year. 7 on your side's michael finney sorts out some of the confusion. >> reporter: when it comes to year end finances the old rules may not add up this year. >> it is difficult to do any type of tax planning and advising because nobody really knows exactly what is going to happen. >> much of the uncertainty centers around whether the united states is about to fall off that a fiscal cliff. if that happens, that would mean the end of the temporary payroll tax cuts. even if that doesn't happen, most believe taxes will go up next year. >> one of the things that is being floated right now is people are advising people to get out of dividend paying funds, high dividend yield funds and move more into tax exempt bonds and things like that that won't be taxed. >> reporter: the current budget negotiations between president obama and house speaker john boehner also could mean the re
. >>> with the government right on the edge now of that fiscal cliff, taxpayers are facing a lot of uncertainty as we head into the new year and for many of us the usual year-end financial strategies simply may not apply this year. 7 on your side's michael finney sorts out some of the confusion. >> reporter: when it comes to year end finances the old rules may not add up this year. >> it is difficult to do any type of tax planning and advising because nobody really knows...
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message to lawmakers about the fiscal cliff. they're using coffee cups to do the job. the ceo at starbucks is urging starbucks workers and employees in the washington, d.c. area to write on the cups, come together, come together right now. i guess quoting the beatles. thursday and friday. dennis, what do you think?. >> that should fix it. that's all we needed. either conjures up very old beatles cliche or elusive quest in the bedroom. they should cut spending or raise taxes on rich and let people vote. >> like the big gulp. cut taxes or --. adam: i feel like i need a cigarette. >> come together. oh that has been the problem. they're not just coming together. like a baseball metaphor and coming to the mound tell the pitcher to throw strikes. >> you are too bitter for starbucks. adam: you were consultant on the hill. >> i was. adam: both sides, the american people are just sick to death of this discussion. >> you could not be more right. by the way, before you come together, come back to d.c. john boehner, come on. adam: won't you come home, john boehner, won't you come
message to lawmakers about the fiscal cliff. they're using coffee cups to do the job. the ceo at starbucks is urging starbucks workers and employees in the washington, d.c. area to write on the cups, come together, come together right now. i guess quoting the beatles. thursday and friday. dennis, what do you think?. >> that should fix it. that's all we needed. either conjures up very old beatles cliche or elusive quest in the bedroom. they should cut spending or raise taxes on rich and...
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could be all the way to tuesday. >> right. we are going to be talking about fiscal cliff. where are we? where are we going? what things can we believe that are coming out from capitol hill? what qunt we believe? >> today, we have the fake plan apparently senate republicans had and white house denying. this is -- ugh. interesting. >> what about the white house supposedly sending its own boiled down fiscal cliff bill to the hill? what's going on with that? you've got harry reid's incendiary comments on the floor today. >> it feels like we're at the beginning of the beginning of the end. >> right. i'll be back tomorrow to talk about it. >> jonathan capehart, thanks so much. that does it for this edition of "andrea mitchell reports." craig melvin has a look at what's next. the pride of south carolina. craig, how are you doing, snir. >> good to see you as always. five days to go until the fiscal cliff deadline. john boehner holding a press conference. what might they be talking about? president obama returned to washington today after speaking with all four congressional leader
could be all the way to tuesday. >> right. we are going to be talking about fiscal cliff. where are we? where are we going? what things can we believe that are coming out from capitol hill? what qunt we believe? >> today, we have the fake plan apparently senate republicans had and white house denying. this is -- ugh. interesting. >> what about the white house supposedly sending its own boiled down fiscal cliff bill to the hill? what's going on with that? you've got harry...
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he complains i've not delivered solutions to the fiscal cliff. he's in error. we all know that in july of this year we passed in the senate the relief that would give -- that it would give to middle class americans. that -- that passed the senate. now, we know the republicans have buried themselves in procedural roadblocks in everything we're trying to do out here and now they are saying, well, we can't do the 250 because it wasn't blue slipped, because it will be blue slipped. mr. president, how does the american people retook the that? there was a bill introduced by the ranking member of the ways and means committee in the house, sandy levin, that called for this legislation. the speaker was going to bring it up to kill it, but he couldn't kill it and then we moved to plan "b," the debacle of all debacles. it's the mother of all debacles. that was brought up in an effort to send us something. he couldn't even pass it among the republicans it was so absurd, he meaning the speaker, so it's very clear now, mr. president, that the speakers's number one goal is to
he complains i've not delivered solutions to the fiscal cliff. he's in error. we all know that in july of this year we passed in the senate the relief that would give -- that it would give to middle class americans. that -- that passed the senate. now, we know the republicans have buried themselves in procedural roadblocks in everything we're trying to do out here and now they are saying, well, we can't do the 250 because it wasn't blue slipped, because it will be blue slipped. mr. president,...
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from the fiscal cliff. >>> former president george h.w. bush in intentive care. we'll have the latest on that. >>> a vigil for firefighters, a tornado in action and december surfing in the great lakes. good morning. i'm mara schiavocampo. a powerful winter storm that brought an odd mix of tornadoes, heavy winds and snow to the nation's midsection is now wreaking havoc on the northeast. snow and sleet have produced treacherous road conditions from pennsylvania and western new york to maine with more than a foot of snow expected in some areas. this storm so far being blamed for at least six deaths. and as nbc's kurt gregory reports, the storm is creating a post holiday travel nightmare. >> reporter: cleanup on the day after christmas for the deep south. a record of more than 20 tornadoes as a massive storm system ripped through mississippi and alabama and left arkansas with a record-breaking white christmas. that storm system continued its march across the center of the nation wednesday, leaving a near whiteout from detroit -- >> not used to
from the fiscal cliff. >>> former president george h.w. bush in intentive care. we'll have the latest on that. >>> a vigil for firefighters, a tornado in action and december surfing in the great lakes. good morning. i'm mara schiavocampo. a powerful winter storm that brought an odd mix of tornadoes, heavy winds and snow to the nation's midsection is now wreaking havoc on the northeast. snow and sleet have produced treacherous road conditions from pennsylvania and western new...
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cliff if no deal is reached. >> that's right. december 31st. a lot going on there. a lot of these budget calamities coming together all at once. economists already warning the fiscal cliff situation could cause another recession. now we're about to hit the nation's debt ceiling. secretary geithner in a letter to congress did go ton say, quote, he would take extraordinary measures and say these extraordinary measures can create approximately $200 billion in head room under the debt limit. under normal circumstances the amount of head room would last approximately two months. however, given the significant uncertainty that now exists with regard to unresolved tax and spending policies for 2013, it's not possible to predict the measure. because of the uncertainty of the fiscal cliff they don't know whether they have enough head room to make sure the nation's debt ceiling doesn't reach limit within two months. the bottom line is even if we deal with the fiscal cliff in the next few days and avert that. there is another crisis with th
cliff if no deal is reached. >> that's right. december 31st. a lot going on there. a lot of these budget calamities coming together all at once. economists already warning the fiscal cliff situation could cause another recession. now we're about to hit the nation's debt ceiling. secretary geithner in a letter to congress did go ton say, quote, he would take extraordinary measures and say these extraordinary measures can create approximately $200 billion in head room under the debt limit....
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when he arrives on thursday, it's right back to budget negotiations with the fiscal cliff deadline less than a week away. >> reporter: as the president wrapped up his vacation, federal workers trickled back into the nation's capital. the only people who can avert the fiscal cliff, members of the house and senate, have not returned. and in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average worker's paycheck in 2013 by about $1,500. long-term unemployment benefits for about 2 million jobless americans are also set to expire, and $110 billion worth of spending cuts to domestic and defense programs will kick in, forcing layoffs in the public and private sector. if congress doesn't act, all the cuts and new taxes will squish the economy back into a mild recession by mid-2013. the impact of some of these new cuts and taxes wouldn't be felt immediately on january 1st because the irs and other agencies didn't expect it to come to this. it could be a few weeks before workers see more money being withheld in their paychecks. >>> george h. w.
when he arrives on thursday, it's right back to budget negotiations with the fiscal cliff deadline less than a week away. >> reporter: as the president wrapped up his vacation, federal workers trickled back into the nation's capital. the only people who can avert the fiscal cliff, members of the house and senate, have not returned. and in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average worker's paycheck in 2013 by about $1,500....
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>> well, a number of factors, right? so, obviously, the topic is the fiscal cliff. even if we get a resolution, if you look at larry mcdonald's bullet points a few minutes ago, those are pretty bearish in my opinion for equities. that ties in nicely to a key thesis we look at in technical analysis, which is the presidential cycle theory, which says that stocks move in four year cycles. the first and second years of a president's term is usually negative for stocks. so, we're setting ourselves up 2013, going in for what we think is going to be a down year for stocks. most of the strategists out there that i look at are pretty bullish. so, you've got most of the street very bullish. we're taking a contrarian view. we think you're going to get a bit of correction. you had a strong rally. we think you're going to correction some of that. >> what's a bit of a correction and which sectors will lead us lower? >> we talk eed about defense. we talked about retail. but if we look at what we have to kind of give back, if we look at the s&p 500, that hit a resistance level at 1
>> well, a number of factors, right? so, obviously, the topic is the fiscal cliff. even if we get a resolution, if you look at larry mcdonald's bullet points a few minutes ago, those are pretty bearish in my opinion for equities. that ties in nicely to a key thesis we look at in technical analysis, which is the presidential cycle theory, which says that stocks move in four year cycles. the first and second years of a president's term is usually negative for stocks. so, we're setting...
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there's no time left, we're falling off the fiscal cliff. what happens if we do? what does it mean to the average american? we're going to break down the facts coming up. >> announcer: if congress fails to agree to a plan to avoid the fiscal cliff, it will result in $40 million in funding cuts for the maternal and child health block grant resulting in 5 million less families served. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. with scottrader streaming quotes, any way you want. fully customize it for your tr
there's no time left, we're falling off the fiscal cliff. what happens if we do? what does it mean to the average american? we're going to break down the facts coming up. >> announcer: if congress fails to agree to a plan to avoid the fiscal cliff, it will result in $40 million in funding cuts for the maternal and child health block grant resulting in 5 million less families served. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because...
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fiscal cliff deal. meantime, treasury warns the government will hit its legal borrowing limit by monday. it's thursday, december 27th, 2012 and "squawk box" begins right now. >>> good morning and welcome to "squawk box" here on cnbc. i'm andrew ross sorkin along with joe kernen. becky continues to have the day off today. our guest host today is bob broska. house speaker john boehner urging the senate to come up with a passable fiscal cliff solution. he's promising to at least consider any bill that the upper chamber produces. senate majority leader harry reid now expected to base any legislation on a bill passed earlier this year to continue tax breaks for households will incomes below $250,000. a senate bill would likely contain an extension of expiring unemployment benefits. and the other big news of the morning, treasury secretary tim geithner unveiling a plan to buy time under the debt ceiling. in a letter to congress, geithner saying that treasury is going to begin taking steps this week to delay h
fiscal cliff deal. meantime, treasury warns the government will hit its legal borrowing limit by monday. it's thursday, december 27th, 2012 and "squawk box" begins right now. >>> good morning and welcome to "squawk box" here on cnbc. i'm andrew ross sorkin along with joe kernen. becky continues to have the day off today. our guest host today is bob broska. house speaker john boehner urging the senate to come up with a passable fiscal cliff solution. he's promising...
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dysfunction increases, the likelihood we will indeed go over the fiscal cliff. now to jackie and future now. >> that's right. you can see it on the chart. gold was lower this morning until majority leader harry reid took to the senate floor and says it looks likely we will go off the fiscal cliff. if we do go off, is buying gold your best bet? even with the cliff looming, gold has done badly over the past month. does that surprise you? >> it does. when you look at money printing going on in japan and the fiscal cliff here and debt ceiling limit and relatively weak dollar, gold should have a lot more shine to it. >> not like the possibility of going over the cliff is something new. if gold is getting a bit on cliff fears, why has it sold off in the last month? what's taken so long? >> funny you mention that, they read the headline, harry reid says, looks like we're going over the cliff, i don't think anybody thinks about that. but everybody hits the sell button because they think everybody's going to. there's plenty of reason to buy gold but whatever gold is deal
dysfunction increases, the likelihood we will indeed go over the fiscal cliff. now to jackie and future now. >> that's right. you can see it on the chart. gold was lower this morning until majority leader harry reid took to the senate floor and says it looks likely we will go off the fiscal cliff. if we do go off, is buying gold your best bet? even with the cliff looming, gold has done badly over the past month. does that surprise you? >> it does. when you look at money printing...
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the way to avoid the fiscal cliff has been right in the face of the republican leaders, both mcconnell and baron --, boehner for days and days and days going into weeks and months and it's the only option that is a viable escape route. that's the senate-passed bill. it wouldn't hard to pass, i've talked about that at some length. every democrat in the house would vote for it, a handful of republicans would vote for it. that's all that would be nominee needed. but, mr. president, grover norquist is standing in the way of this. not the rich people. but grover norquist. the man who says what the republicans can do. so i say to the speaker, take the escape hatch that we've left you. put the economic fate of the nation heafd your own fate as speaker of the house. millions of middle-class families are nervously watching and counting down the moments until their taxes go up. nothing can move forward in regards to our budget crisis unless speaker boehner and leader mcconnell are willing to participate in coming up with a bipartisan plan. speaker boehner is unwilling to negotiate, we have we've
the way to avoid the fiscal cliff has been right in the face of the republican leaders, both mcconnell and baron --, boehner for days and days and days going into weeks and months and it's the only option that is a viable escape route. that's the senate-passed bill. it wouldn't hard to pass, i've talked about that at some length. every democrat in the house would vote for it, a handful of republicans would vote for it. that's all that would be nominee needed. but, mr. president, grover norquist...
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. >> we are less than a week from the fiscal cliff. the united states senate convening right now. we want to show you a live if picture. there it is. that's the senate majority leader. the senators are right now meeting to discuss the economic deadline and coming up at 7:15 we will have more on the fiscal cliff negotiations and how we are closing in on another financial barrier, that debt ceiling. >> let's go to tara filling in for sal. there is another accident in napa. >> we have a two car crash on napa road. that person is trapped inside of the car. chp working to get them out as well as police. we have another incident we want to mention. 880 northbound at 92 split. a solo spin out. it's close to traffic so they are running a break. here is a look at maps where 680 southbound, actually we will go to 101 in san francisco. you can see we have traffic flowing nicely in both directions. finally a look at maze. you can see traffic also flowing very well there on the far right hand side of the screen. let's check in with mark. >> good morning to you. we are taking a live look outsid
. >> we are less than a week from the fiscal cliff. the united states senate convening right now. we want to show you a live if picture. there it is. that's the senate majority leader. the senators are right now meeting to discuss the economic deadline and coming up at 7:15 we will have more on the fiscal cliff negotiations and how we are closing in on another financial barrier, that debt ceiling. >> let's go to tara filling in for sal. there is another accident in napa. >> we...
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. >>> news time right now 5:47. starbucks will tackle the fiscal cliff one cup at a time. the ceo how old shut wants workers in the -- howard schultz wants workers in the d.c. area store to write come together on the coffee cups they serve today and tomorrow. he says it's the company's way of respectfully telling politicians they need to find common ground. >> if people would get in the room and lee their ego behind and not be so skewed towards the party but be so sensitive to the lens of the american people, we will have an agreement. >> now this is just a suggestion from the ceo of starbucks. and employees won't be forced to write anything but a customer's name on the cup. >>> news around the nation this morning, hawaii's governor announced lieutenant governor will fill the u.s. senate seat vacated by the death of daniel inouye. he has said he'll be in d.c. today sworn today in. he says he will seek election for a full term in 2014 but a special election will be held to fill that spot until 2016. inouye was the second longest serving u.s. senator of all time. >>> toyota
. >>> news time right now 5:47. starbucks will tackle the fiscal cliff one cup at a time. the ceo how old shut wants workers in the -- howard schultz wants workers in the d.c. area store to write come together on the coffee cups they serve today and tomorrow. he says it's the company's way of respectfully telling politicians they need to find common ground. >> if people would get in the room and lee their ego behind and not be so skewed towards the party but be so sensitive to...
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one big item that congress did not cross over -- cross of the christmas list -- the fiscal cliff. is congress any closer to a compromise? we have more on that from washington. >> kate, house speaker john boehner is calling lawmakers back to washington on sunday with the votes scheduled for early evening. right now, there is no fiscal agreement for them to vote on. with the nation teetering on the brink, president obama return to washington to work on a deal. >> the american people have a right to be upset with this congress. >> the finger pointing continues with democratic leaders accusing house speaker john boehner of putting his political ambitions ahead of the country's fiscal help. >> it is obvious what he is doing. he is waiting until january 3 to get reelected as speaker before entering serious negotiations. >> boehner says that senator reid should "talk less and legislate more." >> republicans have spent over backwards. we have stepped way, way out of our comfort zone. >> the standoff continues. >> right now, the house and senate are in the blame game. each says the onus is
one big item that congress did not cross over -- cross of the christmas list -- the fiscal cliff. is congress any closer to a compromise? we have more on that from washington. >> kate, house speaker john boehner is calling lawmakers back to washington on sunday with the votes scheduled for early evening. right now, there is no fiscal agreement for them to vote on. with the nation teetering on the brink, president obama return to washington to work on a deal. >> the american people...
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well actually i do care very much about the state going off the fiscal cliff i hope that. and does it because then the rest of us can get on with creating the kind of things you just mentioned and you know i chose three examples peer to peer examples. in what i kind of view as the new frontier you know eric mentioned a two hundred year bull market here in the united states well. you know. it started out as the frontier you know the united states was the frontier it was when it was where paranoid people came you know for gold. and then they fled here and so no papers are paranoid people are still here but you know it's just because you're paranoid doesn't mean they're they're not. so this new frontier of you know peer to peer currency or crowdfunding or you know what have you this is where i think people who are actually going to be making a difference in the future are going to be going to be fleeing just quickly with something like that coin though when you don't have a guy. right they can force taxation how does something like that have value and you just have thirty sec
well actually i do care very much about the state going off the fiscal cliff i hope that. and does it because then the rest of us can get on with creating the kind of things you just mentioned and you know i chose three examples peer to peer examples. in what i kind of view as the new frontier you know eric mentioned a two hundred year bull market here in the united states well. you know. it started out as the frontier you know the united states was the frontier it was when it was where...
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patti ann: yet another fiscal cliff concern. the price of milk, if congress doesn't take action before new year's day the price could more than double. dominic di-natale is live in los angeles right now to explain for us. hi, dominic. >> reporter: hi, patti ann. milk could reach eight bucks a gallon. currently $3.65. a bill that covers billions of dollars in agricultural subsidies. if they don't do that government will have to buy up massive quantities of milk because of outdated 1949 law. they could sell their milk directly to the government first, would be obliged to pay twice the market rate. that would create a milk shortage and spike the prices consumers pay. the senate passed a farm bill. agricultural committee passed a similar bill. they are not identical. differences aren't so wide just that the full house of representatives hasn't approved the bill and it has come down to the wire, patti ann. >> the farm bill is low hanging ornament on the congressional christmas tree, if they just embrace it, they can automatically com
patti ann: yet another fiscal cliff concern. the price of milk, if congress doesn't take action before new year's day the price could more than double. dominic di-natale is live in los angeles right now to explain for us. hi, dominic. >> reporter: hi, patti ann. milk could reach eight bucks a gallon. currently $3.65. a bill that covers billions of dollars in agricultural subsidies. if they don't do that government will have to buy up massive quantities of milk because of outdated 1949...
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. >>> fiscal cliff fears pushing stocks lower but we're well off those lows right now and news that the house will reconvene on sunday evening at 6:30 p.m. eastern time. let's get to seemor, modi with more on this. >> hi, mandy, off of our lows, but today a risk-off approach to trading. that's a strategy being used as wall street is waiting by for the latest on the fiscal cliff negotiations. interestingly enough when you look at the year-to-date performance of the major indices, the nasdaq is the outperformer, however. for q4, just this last quarter, the nasdaq is the worst performing major index. some is down about half a percent today. lastly, one of the bright spots in the online travel space that i want to point your attention to, expedia.com. no major news hepthelping lift the stock. however, traders telling me that technically the stock looks strong. even on twitter you'll see that there are a lot of traders tweeting about this stock, up about 3 president 6%. bill? >> all right. seema, thank you very much. meantime, nokia's shares lower -- they were early on by more than a percent
. >>> fiscal cliff fears pushing stocks lower but we're well off those lows right now and news that the house will reconvene on sunday evening at 6:30 p.m. eastern time. let's get to seemor, modi with more on this. >> hi, mandy, off of our lows, but today a risk-off approach to trading. that's a strategy being used as wall street is waiting by for the latest on the fiscal cliff negotiations. interestingly enough when you look at the year-to-date performance of the major indices,...
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. >> so a top story today, one of the ledges of the fiscal cliff, those automatic spending cuts that almost certainly are going to kick in. we don't see that being part of some last-second deal. hit the defense department. but the pentagon's real problem is not those cuts, but the ones that are going to be coming over the next decade. we talked to military contractors, top officials at the pentagon. they see a long period of downward decline. that after the war in afghanistan, there's going to be a period of austerity. they're calling it -- they have a term around the pentagon, a very graphic self-amputation as they cut back over the years. and this was one of the reasons that president obama had, at the top of his short list, the former republican senator, still a republican, chuck hagel of nebraska. he's somebody who's talked about the pentagon as being bloated, had very specific ideas about how to cut it. but mike, sam, the table, we're hearing that that trial balloon has been popped. that senator hagel has a possibility for secretary of defense, has really lost a lot of altitude.
. >> so a top story today, one of the ledges of the fiscal cliff, those automatic spending cuts that almost certainly are going to kick in. we don't see that being part of some last-second deal. hit the defense department. but the pentagon's real problem is not those cuts, but the ones that are going to be coming over the next decade. we talked to military contractors, top officials at the pentagon. they see a long period of downward decline. that after the war in afghanistan, there's...
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host: have you looked into the fiscal cliff and how it may affect your business in january? caller: yes, and i don't mind paying my fair share. but you have to want to give the next person helping hand. host: all right, thank you so much for calling. you said that you rent out your place for a zumba class in the evening? caller: yes, in the evening when we are not sewing. we substitute and say let's do a class, the couple hours. the ladies bring friends and it increases business. and more people say i need this done or that done. it's a form of networking. but you have to put the endeavour into it to get something out of it. a lot of people just want to take and don't put anything in. you just have to want to put it in. host: guy is a business owner in hillsdale, new york. caller: i have a small music label. i discovered some news by kurt bayo. i cannot get a major label to put the music out, so i decided do it myself. host: have you looked at the fiscal cliff and how it may affect your plans for 2013? caller: of course. this is all about paying for the wars, to me. host: as
host: have you looked into the fiscal cliff and how it may affect your business in january? caller: yes, and i don't mind paying my fair share. but you have to want to give the next person helping hand. host: all right, thank you so much for calling. you said that you rent out your place for a zumba class in the evening? caller: yes, in the evening when we are not sewing. we substitute and say let's do a class, the couple hours. the ladies bring friends and it increases business. and more...
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right now you talk about the fiscal cliff and also hitting this potential debt ceiling limit as well. $16.4 trillion we could arrive at on new year's eve. >> juliet: yeah. let's hear what congressman tray goudie had to say about this. he was on greta the other night. >> i assure you that there will be a resolution either before the new year or shortly after the new year. that's the good news, that there will be a deal. the bad news for you and your viewers is that there won't o'clock a solution. it will be a panacea or some magical alickser, make us all feel a little better. but shortly after the new year, we're also going to get a letter from timothy geithner asking us to raise the debt ceiling for the 80th time in our country's history. so there will be a quote, move to avert the fiscal cliff. your viewers should demand more than a deal. they should demand a solution. >> juliet: kimberly guilfoyle had that. >> kelly: here is a problem with all that, and i hope the congressman is right, because you want to have a sense of optimism. the president talked about being optimistic. john bo
right now you talk about the fiscal cliff and also hitting this potential debt ceiling limit as well. $16.4 trillion we could arrive at on new year's eve. >> juliet: yeah. let's hear what congressman tray goudie had to say about this. he was on greta the other night. >> i assure you that there will be a resolution either before the new year or shortly after the new year. that's the good news, that there will be a deal. the bad news for you and your viewers is that there won't...